News From Press NFO deluge opens mutual fund investor floodgates wide in July, shows data

NFO deluge opens mutual fund investor floodgates wide in July, shows data

Source: BS Aug 19, 2024

The domestic mutual fund (MF) industry saw an unprecedented influx of new investors in July, with a record 1.2 million additions, the highest since December 2021.

This pushes the total unique MF investor count to 48.1 million, approaching the 50 million milestone.

In the past two months, the industry has welcomed a remarkable 2.1 million new investors, fuelled by a wave of new fund offerings (NFOs) in popular themes.

According to Swarup Anand Mohanty, vice-chairman and chief executive officer of Mirae Asset Investment Managers (India), the introduction of innovative funds catering to various risk profiles...

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